UCEDC Small Business Stimulus Program

In response to COVID-19 (Coronavirus), the Universal City Economic Development Corporation (UCEDC) authorized the UCEDC Small Business Stimulus Program to assist businesses negatively affected by the COVID-19 pandemic. The UCEDC Small Business Stimulus Program is a local economic development program authorized under Chapter 505.158 of the Texas Local Government Code to help reduce the resulting economic strain on local businesses.

Overview

On April 27, 2020 the Universal City Economic Development Corporation (UCEDC) approved Resolution 2020-02, funding a project titled "UCEDC Small Business Stimulus Program". On May 5, 2020 the City Council of Universal City ratified the UCEDC's decision. The total UCEDC contributions to the program is $250,000.UPDATE: On Tuesday, May 19, 2020, The City of Universal City City Council voted to match the EDC contribution for the Small Business Stimulus Program increasing the total available funds to $500,000.

Eligibility & Qualifications

The UCEDC developed this stimulus program to assist small Universal City businesses that are independently owned and operated with a maximum of 25 employees. Eligible industries may include retail (storefront), food and beverage; personal care (barber shop, nail salons, spas, etc.), automobile maintenance, education training, health/wellness, and small manufacturing businesses.

All applications must include the following supporting documentation:
1.) Signed W-9 form
2.) Copy of the lease agreement or mortgage loan document
3.) Copy of the Feb 2020 utility bill for each utility type paid
4.) Texas Comptroller of Public Accounts sales tax statement for either February 2020 or most recent filing (not applicable for businesses that do not pay sales tax)
5.) Copy of IRS Form 941 for 4th Quarter 2019 or 1st Quarter 2020

Each applicant may request up to $10,000. If granted, payments will be made directly to the applicant to be utilized for eligible expenses. Additionally, businesses that receive the grant must provide documentation proving that 100% of granted funds were applied to grant eligible expenses.

The application period has closed as enough applications have been submitted to exhaust all allocated funding. Applications will be reviewed on a first come, first serve basis at the Thursday, June 11th UCEDC meeting.